The Ibex (-0.6%) loses the 9,200, pressured by banks and Telefónica

Financial institutions have been among the worst values of the selective

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Bolsamanía
Bolsamania | 28 mar, 2019 10:12 - Actualizado: 18:11
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The Ibex 35 has yielded 0.6% on Thursday and has fallen to 9,174 points in a new day of high volatility in which the selective has been burdened by the entire banking sector and also by Telefónica and in which the the only one of the great values that has closed in green has been Inditex.

IBEX 35
11.659,200
  • 0,35%41,20
  • Max: 11.668,40
  • Min: 11.594,40
  • Volume: -
  • MM 200 : 10.826,74
17:37 04/10/24

Cellnex Telecom (+ 3.37%) was the most bullish value of the session, followed by Ence (+ 2.26%), which, after its second consecutive day of increases, begins to see the light at the end of its long stock market fall after a favorable report from the Bar on the Pontevedra plant. Amadeus (+ 1.49%) closed as the third highest value on Thursday.

At the other end of the selective market, Mediaset (-2.85%) was the worst value of the day, followed by Telefónica (-2.61%), which has been the main drag of the banking sector.

The banking sector has opted today for going red after having been yesterday the big driver of the Ibex. Bankia (-2.17%) and Sabadell (-1.69%) were the worst on Tuesday in the midst of the merger rumors, not ruled out by the president of the Catalan entity, Josep Oliu. In addition, BBVA (-1.35%) has also yielded willingly while the Turkey crisis is rekindling.

OFF WITH HER HEAD

All this as the British Parliament rejects all alternative proposals to May's plan for the exit of the European Union. The PM offered to step down if her plan was approved.

There is no doubt that the banks are also very sensitive to Brexit, but what is moving them now are the different statements of the Fed and the ECB, which have secured their accommodative monetary policies.

The ECB said on Wednesday that it is looking for solutions to alleviate the negative effect that rates at current levels have on financial institutions. This indicates that the rates will continue that way for a long time - Draghi said yesterday that they will continue with an accommodative monetary policy - and this in turn is interpreted as a reflection of a weak economic situation and the fear of a looming deep recession.

Regarding the macro data, this Thursday several relevant ones have been published in the midst of that climate of fear of the economic slowdown. On the one hand, the March CPI for Germany has been known, a data considered 'with a given magnifying glass' given the fear that the 'European locomotive' enters into recession after the bad data known there. According to the interim report, German inflation falls to 1.3%. In addition, the United States has announced the GDP of the fourth quarter, which slows down and grows 2.2%. In Spain, the CPI rose two tenths in March, to 1.3%.

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